What does CarGurus instant market value mean?

Put simply, Instant Market Value is the estimated fair retail price for a vehicle based on similar listings in the market. We analyze millions of currently listed and recently sold cars to determine the Instant Market Value for a vehicle based on year, trim, mileage, transmission, options, region and other factors.

How trustworthy is CarGurus?

CarGurus is a reliable resource for finding vehicle values and additional unbiased research. CarGurus doesn’t have a physical inventory, which means you’ll just be put in contact with nearby dealerships. You can get pre-qualified for financing online before visiting a dealership.

How does CarGurus calculate IMV?

We calculate the CarGurus’s Instant Market Value of every car by using proprietary algorithms that analyze millions of used cars. We then pair IMV data with dealership ratings to give each used car a deal rating from great to overpriced, sorting the best deals first.

What does no price analysis mean?

It means there isn’t enough info from seller to provide a price breakdown (such as a lack of a VIN), or there aren’t enough comparable cars to the one being sold to make a price analysis (that’s usually only the case when a rare car is being sold).

What is the IMV for a car?

The CarGurus Instant Market Value (IMV) is an estimated fair retail price for a vehicle based on a detailed analysis of comparable current and previous car listings in your market.

Does CarGurus pre approval affect credit score?

CarGurus explained Finance in Advance is designed to an easy-to-use feature for eligible shoppers to obtain pre-qualification for vehicle financing. Shoppers can go to https://www.cargurus.com/Cars/finance to pre-qualify for free and with no impact on their credit score.

How does CarGurus determine fair price?

How does CarGurus com calculate value?

Can you still negotiate a no-haggle price?

Even if you intend to negotiate the price, you can use no-haggle outlets just as you do comparative price quotes. If you know that a dealership is willing to sell a vehicle at a set price, then you know that no matter which dealership you talk with, you don’t need to pay more than that price.

What does haggle free price mean?

A dealership’s “no-haggle price” is the price they ask upfront for a vehicle, which is supposed to be non-negotiable. With no-haggle pricing, there are no surprises to deal with, and the dealer does not have a secret bottom-dollar price in mind. The price of the car is not dependent upon negotiation.

What is IMV in Texas?

IMV means instant market value. Value of the car based on current fair market price of the car.